OREANDA-NEWS. February 28, 2012. Public Hearings on the Preliminary Strategy of Open Joint Stock Company The Russian Bank for Supporting Small and Medium-Sized Enterprises (OJSC SME Bank) for a Period of 2012-2015” were held at Vnesheconombank. The Preliminary Strategy is designed to implement the government program for  supporting small and medium-sized enterprises.

In the attendance of the hearings were representatives of the Russian Economic Development Ministry, the Russian Finance Ministry such all-Russian nongovernment organizations as OPORA ROSSII and Delovaya Rossiya as well as the Russian Commerce and Industry Chamber, the Russian Agency for Supporting Small and Medium-Sized Enterprises, the Association of Russian Banks, regional commercial banks and infrastructure organizations for supporting small and medium-sized enterprises.

In his speech Board Member, Vnesheconombank Deputy Chairman Mikhail Kopeikin said that one of Vnesheconombank’s priorities is to provide support for small and medium-sized enterprises. Vnesheconombank is responsible for coordinating activities of its subsidiaries (OJSC Svyaz-Bank, CJSC GLOBEX, OJSC VEB-Leasing) in this line of business. Vnesheconombank also implements a related program through OJSC SME Bank and raises financial resources of international and foreign financial institutions. The total amount of financial support provided to small and medium-sized enterprises since 2009 by Vnesheconombank Group exceeded 320 billion rubles.

The government program for supporting SMEs being implemented by Vnesheconombank through its subsidiary SME-Bank made it possible to finance more than 24 thousand small and medium-sized enterprises for the past three years in the amount of 179 billion rubles through a network of regional partner banks and infrastructure organizations ( leasing and factoring companies and microfinance organizations).

High priority is being given to working out measures and creating mechanisms for securing continuous funding of innovation projects carried out by small and medium-sized enterprises at all stages of innovation cycle.

The program is being developed and implemented as part of a constructive dialogue with the business community, legislative and executive authorities, non-government organizations. Participants in the hearings attached much attention to discussing main priorities and parameters of the program for supporting SMEs.

Under the objectives and tasks agreed upon with the Russian Economic Development Ministry in the period of 2012-2015, priority support is to be provided to small and medium-sized enterprises operating in the non-trade economic sector including those implementing projects in the sphere of innovations, production modernization, resource saving and energy efficiency, special emphasis is being placed on supporting small and medium-sized enterprises in the North Caucasian regions.

The hearings’ participants also argued for increasing periods of funding end borrowers under the program as well as for reducing the cost of resources for small and medium-sized enterprises among other things through reducing partner banks’ and infrastructure organizations’ margin.

The hearings’ participants deem it necessary to further standardize lending processes and credit products for small and medium-sized enterprises as well as to expand information openness and awareness of the program.

A decision was also made to explore the issue of supporting small and medium-sized enterprises that give high priority to exporting products and services. Another decision was taken to make the national economy more competitive and promote the growth of entrepreneurial activity in the foreign economic activity.

The results of the hearings are to be taken into consideration upon preparing a final revision of the OJSC SME Bank’s Strategy for a Period of 2012-2015.